Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Bio-Rad Laboratories has a consensus “Hold” rating from five analysts: four rate the stock a hold and one rates it a buy. The average 12-month price target is $343.33.
• Recent analyst actions were generally positive, with RBC, Wells Fargo, and Citigroup raising their price targets; however, most maintained neutral ratings. Institutional investors own 65.24% of the company.
• Bio-Rad’s latest quarterly results exceeded expectations, with EPS of $2.62 versus a $1.75 estimate and revenue of $651 million versus a $623.99 million estimate, although revenue was essentially flat year over year.

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) have been given an average rating of "Hold" by the five research firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $343.33.

Several research firms recently issued reports on BIO. Royal Bank Of Canada raised their target price on Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Wells Fargo & Company upped their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. Zacks Research upgraded Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Citigroup lifted their price objective on Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised Bio-Rad Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a research note on Monday, August 17th.

Institutional Trading of Bio-Rad Laboratories

Several large investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its position in Bio-Rad Laboratories by 46.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,670 shares of the medical research company's stock valued at $784,000 after purchasing an additional 841 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth about $27,000. Squarepoint Ops LLC purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth about $2,472,000. Nykredit A S bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at about $118,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at about $1,964,000. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Down 5.8%

Shares of BIO opened at $355.93 on Friday. The stock has a market capitalization of $9.52 billion, a P/E ratio of 43.14 and a beta of 1.07. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $366.17 and a two-hundred day simple moving average of $313.66. Bio-Rad Laboratories has a twelve month low of $236.73 and a twelve month high of $396.23.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.87. The business had revenue of $651.00 million for the quarter, compared to analyst estimates of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The company's revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.61 EPS. On average, research analysts anticipate that Bio-Rad Laboratories will post 9.28 EPS for the current year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952, the company develops, manufactures and sells products that support scientific research, biotechnology production, medical testing and quality assurance.

Its Life Science segment provides instruments, reagents, consumables and software used in areas such as genomics, proteomics, cell biology, digital PCR, electrophoresis, chromatography and biopharmaceutical manufacturing.

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